Key Developments: BAE Systems PLC (BAES.L)

BAES.L on London Stock Exchange

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31 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Joint Venture between FADEC International (Safran SA's Sagem-BAE Systems plc) and General Electric Co Named CFM International’s Exclusive Supplier the LEAP Engine Family
Sunday, 17 Mar 2013 08:00pm EDT 

Safran Sa announced that FADEC Alliance, a joint venture between aircraft engine electronic control specialist FADEC International (Safran SA's Sagem-BAE Systems plc) and General Electric Co, has been named CFM International’s exclusive supplier for the LEAP engine family. FADEC Alliance teams will develop four specific versions of Fadec 4 – one for each of the three LEAP versions and one for the Passport. The first ECUs are scheduled to be delivered and the engines run on test stands in mid-2013. Eventually the Fadec, assembled in the United States and France, will equip 15,000 engines. The financial terms of the deal were not disclosed.  Full Article

BAE Systems plc Completes Sale Of US Commercial Armored Vehicles Business
Monday, 25 Feb 2013 12:02pm EST 

BAE Systems plc announced that it has completed the sale of its Commercial Armored Vehicles LLC business in West Chester, Ohio, to The O'Gara Group, Inc. for cash consideration of approximately $10 million.  Full Article

BAE Systems plc Comments On FY 2013 EPS Guidance-Conference Call
Thursday, 21 Feb 2013 04:15am EST 

BAE Systems plc announced that for fiscal 2013, it expects modest growth in underlying earnings per share (EPS). The Company reported EPS of $39.00 in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report $41.03 for fiscal 2013.  Full Article

BAE Systems plc Launches Share Buyback Program of up to GBP 1.00 Billion
Thursday, 21 Feb 2013 02:45am EST 

BAE Systems plc announced that it has started a three-year share buyback program of up to GBP 1.00 billion, the full implementation of which is subject to results of Salam Typhoon price escalation negotiations.  Full Article

BAE Systems plc Recommends Final Dividend
Thursday, 21 Feb 2013 02:02am EST 

BAE Systems plc announced that the board has recommended a final dividend of 11.7 pence per share making a total of 19.5 pence per share for the year, an increase of 4% over 2011.  Full Article

BAE Systems plc Receives Contract For Typhoon Fighter Jets From Oman-Business Line
Sunday, 10 Feb 2013 07:00pm EST 

Business Line reported that BAE Systems plc has won a GBP2.5 billion aircraft contract from the Sultanate of Oman and is to provide 12 Typhoon fighter jets and eight Hawk Advanced Jet Trainer (AJT) aircraft. Deliveries are expected to start in 2017. BAE Systems, which is present in India, is to also provide in-service support to the Royal Air Force of Oman’s operational tasks.  Full Article

Mahindra And Mahindra Ltd To Buy 26% Stake In Defence JV with BAE Systems plc-Business Standard
Saturday, 9 Feb 2013 11:04am EST 

Business Standard reported that Mahindra And Mahindra Ltd said it will acquire 26% stake in its defence joint venture (JV) with BAE Systems plc, ending their three-year partnership. In a joint statement, they said they have decided to end their partnership in the Indian defence sector with M&M set to acquire a 26% stake of its partner in the joint venture company Defence Land Systems India (DLSI). The joint venture company had plans of supplying artillery howitzers and anti-mine vehicles to the armed forces.  Full Article

BAE Systems plc and Oman Agrees Contract For Typhoon And Hawk Air
Friday, 21 Dec 2012 02:18am EST 

BAE Systems plc and the Government of the Sultanate of Oman have entered into a contract for the supply of Typhoon and Hawk Advanced Jet Trainer aircraft to the Royal Air Force of Oman. The contract, valued at approximately GBP2.5 billion, provides for the delivery of 12 Typhoon and 8 Hawk aircraft starting in 2017. BAE Systems is the prime contractor for both the provision of the aircraft and the agreed arrangements for in-service support. This agreement builds on a long history of close cooperation between BAE Systems and the Omani armed forces.  Full Article

BAE Systems plc Receives $400 Million Deal For U.S. Navy Aircraft-Reuters
Thursday, 13 Dec 2012 12:01am EST 

Reuters reported that BAE Systems plc said it has won a contract valued at up to $400 million over the next five years to maintain and service more than 300 U.S. Navy trainer aircraft. BAE said that the contract, which covers inspections, repairs and logistical support for the Navy's T-34, T-44 and T-6 trainer aircraft, would help it expand its services business. The contract includes an initial base term plus multiple options. It will cover five years if all options are exercised.  Full Article

BAE Systems plc Receives $80 Million U.S. Navy Contract For Two Advanced Gun Systems
Wednesday, 28 Nov 2012 12:43pm EST 

BAE Systems plc announced that it has received an $80.3 million modification contract award from the U.S. Navy to deliver two Advanced Gun Systems (AGS) for the latest in the Zumwalt class destroyer fleet, the DDG 1002. This contract marks the third destroyer to receive AGS applications and brings the total funding of the initial contract for this ship, first awarded in October 2011, to $149 million.  Full Article

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Exclusive: BAE Systems says U.S. halted its work on F-16 upgrades for South Korea

WASHINGTON - The U.S. unit of Britain's BAE Systems Plc on Tuesday said the U.S. Air Force has halted some of the company's initial work on a project to upgrade South Korea's F-16 fighter jets amid ongoing talks about the second phase of the project.

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